April 13, 2010 (Chinavestor) The DJIA had gradually recovered from session lows by the end of the day. While Alcoa Inc. (NYSE:AA) disappointed, Intel (NASDAQ:INTC) beat estimates, lifting the spirit of tech investors.
But Chinese stocks failed to keep up with the recovery of U.S. equities. Both large and small caps under perfoemrd for the day as the following screen testifies.
Top ten China stocks moving along the general direction of the market are pictured in the following chart.
Big movers in dollar today included China Petroleum & Chemical Corp.or Sinopec (NYSE:SNP), Asia's largest refiner. Softening oil prices improve margins for Chinese refiners, according to conventional wisdom. Stocks on the negative included pure oil producer CNOOC Ltd. (NYSE:CEO) and China Eastern Airlines (NYSE:CEA). Chinese airliners have suffered earlier the day in Hong Kong, so CEA's weakness today came as a no surprise.